February 15, 2012

Nigeria to boost cotton output to 7,500 tonnes

Nigeria's Federal Government said that by 2015, it would improve the cotton output from 120,000 tonnes seed in the current season to 7,500 tonnes.

Minister of Agriculture and Rural Development, Dr Akinwumi Adesina made this know at the signing of a Memoranda of Understanding with the West Africa Cotton company, a subsidiary of Tropical General Investment group.

Describing cotton as a crop of global importance, Adesina laments that Nigeria has lost its global place in the international market in cotton trade and insists that government is no longer willing to allow the situation to deteriorate further.

He said: "We have descended thus far from the perennial neglect of the sub-sector. While Nigeria's prominence dimmed, our competitors in the sub-region have maintained their dominance due to strong marketing institutions.

"As part of steps towards achieving this goal, Nigeria is entering into partnership with TGI group as we plan for urgent remedial action to the ailing cotton and textile sub-sector back to economic reckoning and ensure the lost glory was regained."